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Hong Kong's CITIC KA WAH Bank Launches Internet Based US Securities Trading, Teaming with ADP and Marketware International

Press Release:: 20 January 2006

New York, NY - October 19, 2006 - CITIC Ka Wah Bank ("CKWB"), a local bank in Hong Kong, announced today that it is now offering its customers the ability to trade securities on U.S. Markets via the Internet. Partnering with Marketware International ("MWI") and ADP Clearing & Outsourcing Services, Inc. ("ADP Clearing"), this offering represents one of several initiatives by CKWB to become the PRC bank of choice through maximizing the latest technologies available to the marketplace.

CKWB is offering customers US Stock trading to expand its wealth management services and provide it's customers with access to the largest securities market in the world thorugh the NYSE, AMEX, NASDAQ.

Designed with ease of use in mind,, the CKWB trading site supports three languages - English, traditional Chinese and simplified Chinese. It also enables customers to have immediate trading capability for US stocks upon opening a US securities trading account and offers same day funds transfer service in support of that trading.

Ms. Phoebe Wong, Senior Vice President and Head of Wealth Management and Strategic Planning Department of CKWB, commented, "We aspire to be the 'best of class' full service offshore PRC bank, offering value-creating financial solutions to Greater China and overseas customers to define and exceed both their wealth management and international business objectives. This US securities trading offering places CKWB in a leadership position in this market."

CKWB selected Marketware ("MWI") to implement this trading solution and MWI then introduced ADP Clearing as the clearing service provider because of their combined industry experience. MWI, the developer of the TD Waterhouse internet trading system in the 1990s, provided both the business and technology level consulting on cross-border securities trading including introduction of relevant corporate parties and their related services that MWI then integrated into the CKWB trading system. ADP Clearing and MWI worked with CKWB to create a powerful, yet intuitively user-friendly trading platform.

The Marketware International implementation includes:

  • A single log on process to CKWB's i-banking where a customer can access the world's largest stock market, in their language of choice - English, traditional Chinese, or simplified Chinese.
  • Straight through trading - Customers can enjoy "One Click" trading throughout the web site.
  • Customized cash up front business calculating model - Customers, with a single view, can track funds availability for trading, taking into consideration all pending settlement transactions and open orders.

Mr. Jose Pierre, President of MWI, commented, "Working on the implementation of this system is very significant because we are creating a new system with new functions in a new market and that market is Greater China. We are also creating new business relationships bringing together top tier financial services firms from multiple continents, with the objective of offering a trading platform that features ease of use, outstanding market analysis, and cross-border funds handling that should result in a very satisfying trading experience for the CKWB end user investor."

ADP Clearing's implementation:

  • Provides ease of use trading functions that support the time difference considerations of global trading; specifically the availability of market, limit, stop limit and good till orders.
  • Helps to build an efficient cash management process that enables customers to transmit funds for trading on the same day.
  • Offers dual fulfillment – CKWB customers can now access their e-transaction confirmations and monthly statement online at any time, anywhere.

Mr. Joe Barra, President of ADP Clearing said, “ADP is a leader in providing cross-border processing services that sees Greater China as a strategic growth opportunity so we are delighted to be the transaction services provider for CKWB’s i-banking trading offering. CKWB is uniquely positioned to develop global securities trading in its market and we at ADP look forward to tailoring our capabilities to their unique market and regulatory requirements.”

CITIC Ka Wah Bank
CITIC Ka Wah Bank Limited ("CKWB") is a wholly-owned subsidiary of CITIC International Financial Holdings Limited, which in turn is approximately 56%-owned by CITIC Group. By providing value-creating financial solutions to define and exceed both the wealth management and international business objectives of our Greater China and overseas customers, CKWB aspires to be the PRC bank of choice, with the best international standards and capabilities. CKWB operates 31 branches in Hong Kong and also has an established presence in China through its branches in Shanghai and Macau, its representative office in Beijing, and its wholly-owned finance company, China International Finance Company Limited (Shenzhen). CKWB's overseas branch network covers New York and Los Angeles. CKWB is rated "Baa2" by Moody's Investors Service and "BBB+" by FITCH. More information about CKWB can be found on its website at http://www.citicbankintl.com.

ADP Brokerage Services Group
As a premier provider of transaction services to the financial industry, ADP has the capacity and technological expertise to assist its clients in differentiating themselves in the marketplace. ADP brings to financial intermediaries advanced, integrated systems for securities processing, desktop productivity and investor communication services, all focused on providing solutions for straight through processing and World Class Service.

ADP(NYSE: ADP), with over $9.0 billion in revenues and more than 570,000 clients worldwide, is one of the largest providers of a broad range of premier, mission-critical, cost-effective transaction processing and information-based business solutions. For more information about ADP Brokerage Services Group, please visit our web site at www.bsg.adp.com and for other ADP services and investor information, please visit www.adp.com.

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